🔸BRC-721E

A simple protocol which allows ERC-721 NFTs to migrate to Bitcoin on their own schedule, without inscribing an entire collection beforehand.

Standard Twitter Thread: https://twitter.com/kiwi_dream/status/1663266009841811457 Usage Twitter Thread: https://twitter.com/OrdinalsMarket_/status/1666658796670947328

Introducing BRC-721E: The Revolutionary Protocol

Created by the innovative minds at OrdinalsMarket and BitcoinMiladys, BRC-721E is a groundbreaking protocol that aims to revolutionize the digital asset industry.

Key Features

• Enables permissionless bridging from Ethereum (ETH) to Bitcoin (BTC).

• Ensures that the assets get instantly listed on marketplaces after inscription.

• Provides cost efficiency for managing large collections.

What is BRC-721E?

BRC-721E is a simple protocol that allows ERC-721 NFTs to seamlessly migrate to Bitcoin on their own schedule, eliminating the need to inscribe an entire collection beforehand. The protocol encodes data directly into the burn transaction (TX) that appoints a Bitcoin address to receive an inscription.

How is BRC-721E Different?

Unlike the Teleburn protocol, which necessitates knowing the inscription ID in advance of burning the Ethereum NFT, BRC-721E allows the burn to take place before the inscription. Consequently, the burn TX serves as an on-chain inscription request. This feature also enables users to receive airdrops.

How Does BRC-721E Work?

Indexers collate data from both blockchains, enabling the provision of rich, dynamic metadata on Bitcoin at a fraction of the cost. BRC-721 inscriptions are approximately 100 bytes, substantially cheaper than inscribing an image. This cost-effectiveness results in a massive increase in quality.

Current Support

The first few BitcoinMiladys NFTs have successfully bridged using BRC-721E, and the collection is already listed on OrdinalsMarket with complete metadata.

The introduction of BRC-721E showcases a significant advancement in the field of digital assets, promising a more efficient and cost-effective approach to managing large collections of NFTs.